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Is $1 GLX possible?

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Belemo
@belemo
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3 min read

My investment in GLX tokens was as random as they come. I saw a new token that is affiliated with Splinterlands, I bought what I considered to be a small amount with spare cash that I would have probably used to buy a video game and fast-forward to today, the dollar value of the investment has probably sextupled.

In the space of four days, I have already pulled out twice the amount I invested and if I have any regrets, it is that I didn't invest more than I did. Assuming I threw $1000 at the project when I did, I would have been looking at thousands of dollars worth of profit right now.

It is safe to say that I am absolutely jealous of all the lucky bastards who risked more money in buying GLX token. In any case, I can't even be mad or anything because profit is profit and I certainly have made profit.

In fact, the profit I've made so far isn't even in the past tense. As we speak, I'm farming GLX token at a pretty decent rate and earning upwards of $1.5 per hour.

If anybody told me that I'd be in this situation in a bear market, I'd say they were taking the piss. Alas, here I am, farming a token with a very limited supply and reaping dividends from it.

$1 would be amazing

Right now, there is a limited supply of the token and investors are still looking to get into the very lucrative staking reward. With so little in the market, the only way for these investors to get in is to pump my bag and boy would it be amazing if they pump it as hard as my fantasies.

A $1 valuation would put the market value of my GLX tokens at a bit over $1500. If I had invested a few more zeros into the project, I would have been looking at life-changing money but there's no time to cry over spilt milk.

At the time of writing, there;s some insane volatility about the token, with its value varying from 19 cents to 29 cents in the past couple of hours. This sort of craziness could actually amount in a sudden spike that could see the token get closer to my $1 dream.

At $1 per GLX, my farming operation could be earning me upwards of $50 per day in GLX tokens. Hell, I don't even know how valuable GLGT tokens will be as they've not yet hit Hive-engine but that could easily turn out to be even more valuable considering it's scarcer.

In summary

I decided to buy GLX tokens on a whim and the profit from the move has been incredible. As I said, it is not life changing money but if we were to talk about it in percentages, you'll find that I am in an incredible position.

My situation is similar to the handful of investors that decided to gamble; some probably knew it would be huge and others probably just bought a few tokens on a whim, as I did.

Moral of the story is that sometimes, investing on a whim that is solely based on the track record of the project creator could actually pay dividend. With that said, this is not financial advice, always do your own research.

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